The GSC Lumileds debacle, KingSun investment is also out of the question

KingSun after the general meeting of the company "on the use of raised funds and own funds of foreign investment bill", the company agreed to by all the remaining funds, the change of LED indoor lighting project, all the remaining funds raised, LED outdoor lighting and landscape lighting project all the remaining part of the company's capital and liquidity of Holland Royal PHILPS split the Lumileds company (hereinafter referred to as the "PHILPS lumen") indirect investment $100 million (equivalent to approximately RMB 654 million 840 thousand yuan, including the relevant swap fee and management fee), used for indirect acquisition of PHILPS 6.15% stake in lumens.

For the implementation of the foreign investment matters, the company has knowledge and the Tianjin Cci Capital Ltd (hereinafter referred to as the "Tianjin channel") jointly funded the establishment of the Shanghai Free Trade Zone in Shanghai Zhixin QINSHANG Asset Management Center (limited partnership), proposed by Shanghai Zhixin QINSHANG Asset Management Center (limited partnership) investment GSC Target SPV, L.P then, the indirect investment of PHILPS lumens.

26 morning announcement said that recently, the company received the Tianjin letter this letter "partners", that the U.S. government for the sake of national security, GSC Target SPV, L.P.'s acquisition of PHILPS is unable to lumen by a substantial barrier, so government approval, GSC Target SPV, L.P. transactions and other consultations will no longer be PHILPS the lumen of the merger. In view of this, the company's foreign investment will not be implemented. The company has to pay for the implementation of this foreign investment funds have been fully refunded to the company's account (which is related to the return of funds raised to the original capital account).

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